The T-Net20 index closed at 2512.06 on September
24, 1999. This means that a $1000 investment in January 1998 in a basket
of stocks comprising B.C.'s top 20 technology companies would now be worth
$2512. In the last TIA Monitor update the index stood at $2351 (Aug 6).
Since then the index surpassed the 2800 mark.

Starting in October, the top 20 list will be updated
to include newcomers Creo Products Inc. (TSE:CEC, NASDAQ:CREO) and
Pivotal Corp. (NASDAQ:PVTL), both of which went public during the
summer months. Creo offered its shares to the public at US$15 and has traded
as high as $28.38, closing on Sep. 24 at $24.25 for a total market capitalization
of more than C$1.1 billion. Pivotal, which offered its stock at US$12,
closed at US$16.88 for a market capitalization exceeding C$487 million.

This will place Creo and Pivotal in the fourth and
fifth spot, respectively, in the top 20. These companies, along with PMC
Sierra, trade on the NASDAQ stock market. These additions will significantly
boost the aggregate value of our top tier grouping towards the $20 billion
mark.

As impressive as this valuation may appear, the technology
industry in B.C. is still in its nascent stages. Only a few years ago,
companies were aiming for the $100 million sales milestone. In comparison
to other technology regions, many of which are home to many $1 billion-plus
companies, we still have a long way to go. In my view, there's plenty of
upside potential in the stock prices of this group. After all, they're
just getting started!

Michael Volker is the Director of the University/Industry
Liaison Office at Simon Fraser University, Chairman of the Vancouver Enterprise
Forum, and a technology entrepreneur. Contact: mike@risktaker.com.